Uber unveils its first-ever share-buyback program for up to $7 billion

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Uber Technologies Inc.’s stock jumped 5.6% premarket Wednesday, after the ride-sharing company announced its first-ever share-buyback program with its board authorizing the repurchase of up to $7 billion worth of stock.

Chief Financial Officer Prashanth Mahendra-Rajah said the move was a vote of confidence in the company’s financial momentum.

“We…

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